Energy bill apathy contributing to debt troubles?

A sense of apathy when it comes to energy bills could be contributing to debt worries for many – especially over the colder months – new figures have shown.

Research carried out by moneysupermarket.com has found that Britain’s energy bill payers are squandering a combined £4 billion a year by not bothering to shop around for cheaper deals.

The study revealed homeowners could make substantial savings on their gas and electricity costs if they searched for more suitable deals.

It was discovered people could save £263 over a 12-month period by changing their current incumbent tariff for a better online dual fuel deal – which could make a big difference for those with money worries.

The price comparison website cited research from Ofgem that suggested 58 per cent of gas customers and 57 per cent of electricity consumers have never looked for a better deal.

It means 15.66 million and 15.39 million people in the UK have never moved away from their usual provider, regardless of the savings they could make.

Scott Byrom, energy manager at moneysupermarket.com, recommended Brits should look to change their tariff now as the nation uses around 40 per cent of its annual energy consumption between November and January.

The industry expert added: “Our research found 24 million people would look to put extra layers on this winter rather than turn their thermostats up because their energy costs are already so expensive.”

Recent research carried out by The Co-operative Electrical found many individuals under the age of 35 appear willing to dice with debt this Christmas by borrowing money to help them through the festive period.

By Amy White